Islamabad, Aug 30: In close collaboration with the Securities & Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP), the Pakistan Stock Exchange (PSX) and Central Depository Company of Pakistan Limited (CDC) aim to provide a smooth and seamless experience for investors taking part in initial public offerings.
As part of the plan, 1Link has directed all of its member banks to abolish the funds transfer limitations for transactions carried out through e-IPO platforms, with the assistance of SBP. In the past, the Banks set transactional limits on these electronic payments.
1Link recently released a memo to this effect, directing all banks to do away with the transactional cap for initial public offerings (EIPOs). By taking this action, investors will be able to use the EIPO facility to participate in an IPO without being constrained by transactional limits or capping. Investors taking part in the IPO through the EIPO platforms are given an end-to-end digital experience by means of the EIPO system.
The CEO of PSX said, “Pakistan Stock Exchange continuously endeavors to facilitate investors, market participants, and stakeholders.” in reference to the abolition of transactional capping for EIPO transactions. In keeping with this philosophy, PSX has facilitated the removal of transaction limit capping for investors using the EIPO platforms today with the help of the CDC and the backing of the SECP and SBP.
